Unlocking Global Growth for UK Ecommerce Sellers

Thinking about expanding your UK ecommerce business internationally? In this video, Elspeth Cordray (UK Go-To-Market Manager at A2X) is joined by Victoria Port from MVP Bookkeeping and Elliot Martin from Taxually to share considerations on bookkeeping, VAT/sales tax compliance, cash flow forecasting, and more so you can start to unlock global growth.

Disclaimer: This video contains general information about VAT, sales tax, and bookkeeping best practices. It is not intended to serve as tax or accounting advice. Every business’s compliance requirements are different. Please consult a qualified tax professional or accountant to discuss your specific circumstances.

Download MVP Bookkeeping’s monthly bookkeeping checklist → https://go.a2xaccounting.com/hubfs/A2X_Bookkeeping_Resources/Ecommerce_Bookkeeping_Checklist_MVP.pdf

00:00 – Intro: Unlocking Global Growth for UK-based Ecommerce Sellers
00:50 – About MVP Bookkeeping and ecommerce clients
01:45 – About Taxually and simplifying global VAT compliance
02:43 – What this video covers & important disclaimer
03:18 – Tip 1: Get your books right (importance of accurate, automated records)
04:15 – Victoria’s bookkeeping process & checklist
05:28 – Elliot on aligning bookkeeping with global compliance
06:32 – How A2X and Taxually work together
07:45 – Tip 2: Run a compliance checklist before entering new markets
08:19 – Taxually’s compliance checks: VAT rules, OSS, IOSS, and product compliance
11:45 – Tip 3: Monitor tax thresholds in each region
2:24 – Understanding VAT/sales tax thresholds in the US and EU
13:58 – Storing goods & physical/economic nexus explained
15:21 – EPR compliance for EU sellers (esp. on Amazon)
16:43 – Using A2X/Xero/QuickBooks to track thresholds
18:27 – Tip 4: Close the loop on tax & VAT returns
19:07 – How to reconcile VAT returns & avoid missed claims
20:04 – Common mistakes around VAT reclaim on fees
20:30 – Tip 5: Forecast the tax cash crunch
21:12 – How real-time books & 13-week cash flow forecasts help
23:38 – Taxually’s filing calendar for proactive planning
25:13 – Final thoughts: considerations for sellers and accountants
28:13 – Getting help from ecommerce-savvy bookkeepers
28:51 – Wrap-up and next steps

Transcript

Elspeth Cordray (00:00)

Hi everyone, my name is Elspeth and I’m the UK Go-To-Market Manager for A2X. A2X is an accounting automation software for the world’s leading ecommerce brands, as well as their accounting and bookkeeping partners.

I’m joined today by two guests who each have a wealth of experience helping UK-based businesses unlock growth and stay compliant.

Victoria Port is our first guest. She is the founder of MVP Bookkeeping.

and I’ve been privileged to work with Victoria over a number of years in different formats. She runs a bookkeeping practice in Cornwall that specializes in working with ecommerce sellers. Victoria also used to be part of the A2X team. It’s great to have you with us here today, Victoria. Can you just tell us a bit more about MVP bookkeeping and the type of clients you work with?

Victoria Port (00:50)

Thank you. Yeah, it’s great to be here with you too. I work with small seller startups.

operating from their dining room table with a big dream right the way through to larger high volume global sellers. And I provide a peace of mind and personal touch to my clients as I’ve got an extensive knowledge of the ecommerce industry. And at MVP Bookkeeping, we provide a full UK VAT and accounting service to our clients. And that really helps them to scale and get ahead of their compliance requirements.

Elspeth Cordray (01:19)

That’s great. And it was great to see you becoming a gold partner lately, Victoria. That was exciting. Okay, so our second guest is Elliot Martin, the partnerships manager at Taxually. Taxually is a platform that automates VAT and sales tax registration globally. It takes care of reporting and filing across multiple countries and gives ecommerce businesses a single dashboard that’s audit ready.

Victoria Port (01:24)

Thank you.

Elspeth Cordray (01:45)

global compliance when it comes to their international tax requirements. So welcome Elliot, can you tell us a bit more about Taxually?

Elliot Martin (01:54)

Hi everyone, thank you Elizabeth for having me on, really appreciate it. Yeah, of course, I’ll give you an overview of Taxually, especially on the topic of unlocking global growth. That is essentially what we do, but from a tax compliance perspective. Anyone who’s selling internationally, cross border, you’re gonna come up against tax blockers, which make it hard to expand. And our mission really is to simplify that and enable your global growth. So, Taxually is an easy to use software solution. And it

enables you to register and file for VAT and sales tax globally, in over 85 countries now. We integrate directly with your sales channels, Shopify, Amazon, Stripe. we’re going for about seven or eight years now, supporting over 20,000 businesses globally. And this can be from your single person startup, just getting off the ground all the way through to your larger enterprise clients. like the BBC, like GoPro.

Elspeth Cordray (02:43)

Amazing. Okay, so if you do want to get in touch with MVP Bookkeeping or Taxually, we’re going to include their links in the description at the end of this video so you can check them out there.

So in this video, we’re going to share a few straightforward tips spanning bookkeeping basics and VAT/sales tax checks that UK ecommerce sellers should nail down before expanding their businesses to new international markets.

A quick disclaimer on this video. Although we’ll be talking about VAT and sales tax, the information provided in this video is intended to be general. So it’s not tax or VAT advice.

Every business’s VAT and sales tax requirements will be different so be sure to consult a certified expert to understand your business’s specific obligations.

Okay, so our first tip for ecommerce sellers who want to expand into other regions is tip number one, get your books right. Ensure your transactional data is accurate and you’re capturing or prepared to capture your sales tax, VAT, and GST. So no matter which market you want to expand into, I do think it’s safe to say that almost every region does require solid record keeping and audit ready data should you need it.

Accurate and automated records are key to this process. So we’re going to bring in Victoria from MVP. Victoria, I’d love to hear what a solid bookkeeping system or process looks like for you for UK-based ecommerce sellers.

Victoria Port (04:15)

Yeah, you certainly need to have the right processes and software in place to make sure that you’re recording everything accurately. From a UK perspective, you need to first of all make sure that you’re on the right VAT scheme for your business. So if you’re not sure, then talk to an ecommerce bookkeeper or an accountant who can analyse your business structure and check this out for you.

The next thing you’d need to do is then make sure that you’ve got the right software in place to capture your sales, VAT, holds, refunds, all of the extra things that happen in a sales deposit. Make sure that you’re recording them accurately and have a good bookkeeper to maintain that for you. So when I take on new clients, I often see mistakes with incorrect VAT rates being used.

or balance sheet discrepancies because they haven’t been reconciling their clearing accounts. And this can cost companies thousands. So Here’s the bookkeeping checklist that I use when closing out the month for my clients. And it ensures that the client knows exactly which income streams or products are most profitable. And then it also helps them identify their tax obligations.

So feel free to download this checklist. It’s linked in the description below. And you can also contact me if you’ve got any questions about it or would like extra help with your month end bookkeeping processes.

Elspeth Cordray (05:28)

That’s brilliant, thanks for sharing that Victoria. So I’ll move to Elliot now. From Taxually’s perspective, tell us a bit more about how you would view this part of the process.

Elliot Martin (05:38)

Sure, yeah, well, as Victoria mentioned, when it comes to your bookkeeping, it’s essential that everything’s all done correctly and it applies with your global tax compliance, your sales outside of the UK or outside of where your company’s incorporated. Similarly, you want to be getting that data correct, you want to be sending the right filings to the relevant tax authorities and you don’t want to be making mistakes that can end up costing you fines or penalties down the line.

Elspeth Cordray (06:03)

Yeah, absolutely, because it can be costly.

So Victoria, earlier you mentioned that having a good bookkeeping system in place was really important. And Part of the reason we wanted to do this video is because we know that A2X and Taxually can work really well together to support that sales tax and VAT piece, especially for any brands that are interested in globally growing. So could you speak to us just about how A2X and Taxually work together in that process?

Victoria Port (06:32)

Yeah, that’s a really good question and making sure that you’ve got the right software like A2X and Taxually is vital when you’re looking to expand. A2X is the software that’s really going to help make sure that you’ve got those accurate sales figures in your accounting software such as Xero or QuickBooks. We’ve mentioned about splitting the sales by certain regions, but it’s even got the capacity to split the sales out by individual countries. There’s so much you can do with it, the more advanced

into the settings you go that you can really get accurate data. So that’s making sure that you’ve got the right full picture in your accounting software, whereas the real value of Taxually is making sure that you have the right compliance in place to actually submit those tax returns with full peace of mind. Everything’s covered and everything’s accurate. So it’s another great piece of software where everything all syncs together and you can see in one place then in your accounting software the actual tax due when it’s

due and know that it’s been recorded accurately.

Elspeth Cordray (07:33)

So tip number one, just to recap, the main takeaway from that is before you do sell in a new country, make sure every sale fee and refund drops into your books with the right tax code automatically. It’ll save you big headache getting that right from the start.

Tip number two is run a compliance checklist before listing in a new market. Even with a solid bookkeeping setup like we’ve spoken about, it is important to ensure you’re compliant with tax laws in new regions before you start selling there because as Elliot mentioned, mistakes can be costly, so best to be proactive and get it right from the start. So Elliot, I think you’re gonna tell us a little bit about some checks you can do before you start selling in a new country to make sure that you stay

compliant.

Elliot Martin (08:19)

Yeah, absolutely. So.

When you’re looking to expand, and firstly, that’s a great step for any business and it’s exciting, but at the same time, it does come with risks and often just annoying complexities, right? You’re an entrepreneur, you want to sell more, you want to sell to more customers in more countries, and sort of tax gets in the way, and that’s something we’re trying to remove, right? So in terms of a checklist and a really important thought process, I think, for merchants to go through is firstly about where they’re storing goods and how they’re getting their goods to the end customer. So a really good

of litmus tests, particularly in the EU. If you’re storing physical goods in a country on the continent, that’s gonna require a VAT registration in that country. So that can be, whether you’ve got a 3PL in the Netherlands or in Germany or France, immediately, if you’re holding physical stock in a warehouse, you are going to need a VAT number. So that’s a really good, just off the bat, straight away, you’re gonna need that.

Then it kind of goes beyond, well, what was your ambition expanding in the first place and who are you trying to reach? Because even once you’ve got your goods on the continent, you’ve then got kind of the cross border piece. Let’s say you were to have a facility in Germany or the Netherlands and you wanted to sell it to the other European countries. There will be cross border, even though it’s still within the EU, there are cross border rules that you’ll have to stay compliant with. And that’s where, and a lot of you might already know about this, is something called OSS, which stands for One Stop Shop, which can actually help

you sell cross-border within the European Union.

And that’s something that we can help everyone get registered with and do their filings. So, you know, it’s really important when you’re expanding to think about where you’re going to be selling and how you’re storing goods. Alternatively, let’s say you don’t want to use a logistics hub in the continent to start with. A lot of sellers like to test the European market by using something called Import One Stop Shop or IOSS, which essentially allows the business to send the goods from the UK facility or warehouse straight to the consumer in France, Spain, Italy, etc. Now

that only applies to the low consignment goods and there are a few other things to consider. We’re not going to go into all those details on this call, but just to give you that kind of understanding. Those are kind of your options when expanding to the EU. And then finally, a brief piece on kind of the product compliance and EPR. So if any of you guys are selling on Amazon

you may already know what EPR is, which is Extended Producer Responsibility. So that’s another thing that we’re seeing more more sellers come to us and something we help them with because the marketplace is really pushing it now. And equally with product compliance, you’re selling things like supplements, cosmetics. That’s something we can help you with. Your different countries, different, you know, the EU has different rules and regulations around what’s okay to sell to consumers. So important to kind of consult ahead

of

that because the last thing we want is for you to get banned from a marketplace or have, you if you haven’t got a registration in place, maybe tax penalties down the line. Or as one of my clients kind of found out the hard way, he’s been deregistered in one of those countries and it’s a very difficult process for him to get back in there because of previous issues. So that’s kind of what’s important to have going on mentally. And again, you know, if you want to speak to us, reach out, we can kind of guide you through that process.

Elspeth Cordray (11:25)

That’s great, super helpful Elliot. Thanks for sharing that with us. Okay, so so far we’ve covered that UK based ecommerce businesses who want to expand globally need to firstly have their records in order and then secondly do a compliance check before they start to sell into another region and just take into account all of those different variables that we’ve spoken about.

Now we’re gonna run through a few more quick but important

important tips that can help UK businesses expand globally and stay compliant.

Tip number three is monitor thresholds. In the same way as you’ll have monitored your UK sales to see when you went over the UK VAT threshold, you’ll also want to monitor your thresholds in other countries that you expand into. Growth spikes in sales can quietly push you over foreign tax limits, so it’s important to keep an eye on these. So for Taxually Elliot, first maybe you can tell us what we mean when we talk about a tax threshold.

Elliot Martin (12:24)

Yeah so ⁓ different countries have different essentially financial thresholds which apply to sellers selling into those markets, even within the EU, but also sort of North America broken down by each state. So why sellers need to be aware of this is, you know, in the US, let’s say some states like California have a half a million US dollar threshold. So if you go above that, you need to register for sales tax. Whereas Florida, that limit’s only 100,000

dollars.

Another consideration, states like Illinois actually have a transaction and or $100,000. So in that case, it’s 200 transactions. So for some of you, maybe selling sort of lower ticket products, maybe $10, you might be doing 50,000 of those thinking, oh, well, I’m way below 100,000, but actually a way above the 200 item threshold. So it’s just worth bearing those in mind. Then when it comes to kind of the EU side of things, fortunately, the One Stop Shop scheme takes care of those cross border thresholds within the EU.

So if you have an OSS registration, you’re storing goods in one European country and selling to others, the OSS removes those thresholds for you. It’s a really great tool for that. yeah, when you think about the EU, OSS can kind of cover that. And on the States, it’s broken down by States. It is quite complicated, but we do offer a nexus analysis that can help sellers navigate that and register where it’s appropriate.

Elspeth Cordray (13:48)

Yeah, I think that illustrates how much it can vary from state to state even. Is there anything else that they should consider when it comes to those thresholds?

Elliot Martin (13:58)

Yeah, sure. More on the requirements piece as well as thresholds. You if you are storing physical goods in a country outside of the country of your incorporation, so if you’re UK business storing goods in a EU country, you will need a VAT number in that country, whether it be the Netherlands, France, Germany or Spain. Any of those countries within the EU, you’re storing goods, you will need to register for a VAT number in that country. And then if you’re selling cross border from that country, you’ll then also need the OSS. So those work in conjunction together.

And then similarly on the US side, we just talked about the economic nexus, the $100,000 limit. But there’s also the physical nexus. So if you’re storing goods, again, similarly to the EU, if you’ve got warehouses in Florida or California, that can trigger a sales tax requirement as well. So that’s also very important to bear in mind.

Elspeth Cordray (14:47)

And you can assess all of that for them if they came to you for advice, Elliot.

Elliot Martin (14:52)

Yeah, absolutely. So when businesses come to us, you know, we have a free consultation call. We really try and understand their ambitions as a business and their existing setup, whether it be from logistics as well. We do work with a lot of logistics providers in the space to support their clients when registering new regions. So we will ask them where are they storing goods as well as sort of existing financial figures so that we can best guide them through the registration processes.

Elspeth Cordray (15:15)

That’s great. And is there anything else that sellers should be aware of as they listen to this video?

Elliot Martin (15:21)

So particularly on the EU side, and particularly if you’re an Amazon seller, there’s something called EPR, Extended Producer Responsibility. Some of you may or may not be aware of this already. Essentially, it’s an eco tax, and a number of countries, not all of them are currently enforcing it, but Germany, France, Spain, really good examples. So EPR is putting the burden of product waste on you as a seller. So think packaging, think paper, think batteries, plastics.

Amazon is really pushing sellers to get ⁓ EPR registrations and filings in those countries so that they remain compliant for the waste product that they dump on the market basically. So as a seller, it is being pushed on you. So if you’re already selling on Amazon, you might be aware of this. If you’re not selling on Amazon,

It might not be something in front of mind, but it is something that’s coming into play more and more often as we’re seeing that trend grow. And again, other marketplaces might already be pushing it as well. if you have any questions, feel free to reach out. We have a whole Eco Tax department. They’re fantastic team and they can really help you stay compliant from an environmental waste perspective.

Elspeth Cordray (16:23)

Yeah, I think those are really important considerations when branching out. I’m going to ask Victoria as well from the bookkeeping accounting side, how do you use the accounting data, the ledger to confirm if someone is reaching thresholds and decide whether to register or change strategy?

Victoria Port (16:43)

Yeah, it’s a good question. It really emphasizes the need to have a good bookkeeper set up your A2X account for you. For example, if you’re selling on Shopify globally, by default, everything’s just going to go into one Shopify sales account. And this would just be the same for other platforms like Amazon as well. But that would mean you wouldn’t really have an easy way of viewing your sales by country in your accounting software. But that is the beauty of using a tool like A2X because it scales with your business. So you can enable additional settings to

split the sales by country or region and use tracking categories in Xero or classes in QuickBooks to split those sales up by country or region so that you can see the accurate, that you can see on the slide, the accurate P&L with it split out by country. So once you’re approaching those thresholds, then you’d need to weigh up the true cost of expanding in that region. And at that stage, I’d recommend that you run a few scenario-based forecasts that just ⁓

look at the impact of expanding into that region and what that could be based on your current sales pattern. And this would include the impact of cash flow as well, having another tax registration and the associated costs with that. You’d also, as Elliot’s already mentioned, need to weigh up the cost of storing your inventory as well and have a good plan of where you would store that inventory because the ⁓ country that you store it in will have an impact on your tax too.

Elspeth Cordray (18:09)

Yeah, absolutely, it makes a big difference where you’re storing your products. Okay, so that’s really helpful information. So I think the key takeaways from this tip is keep an eye on your thresholds, use the software to help you split it out and have more visibility on it. And yeah, just keep an eye as you’re increasing your sales through different regions.

So tip number four is close the loop on tax and VAT returns. So an important piece of this, of selling globally, is ensuring that you file any necessary tax or VAT returns. And it’s also important that as you’re filing those, as you’re remitting this money to various different authorities, that you’re also reconciling that and keeping it all tidy inside your accounts.

So Victoria, I’m going to go to you first and just ask you, how can businesses manage the bookkeeping side of those tax filings and ensure that they’re getting good reconciliations at month end?

Victoria Port (19:07)

Yeah, it’s really important to review the VAT return before just hitting submit. And this would include reconciling your profit and loss report back to the sales channels. So if you use Shopify and Amazon, A2X have a really good feature that helps you do that. And then once you’re happy that the overall sales are recorded correctly, then you’d also want to reconcile your balance sheet, including the VAT account. So when you review your balance sheet, you should always know exactly what the figures on the balance sheet relate to. And once you’ve done that, if you know your VAT

correct on your balance sheet you’ll know your VAT is correct on your VAT return as well. And if you’re selling on Amazon or eBay as a UK seller then this would also mean making sure that the VAT you’re reclaiming on your fees matches back to the sales platform and that’s a really big mistake I often see when taking on new clients even really large sellers that they’ve missed out on a lot of VAT they could have claimed back on their VAT returns because they didn’t complete this reconciliation process.

Elspeth Cordray (20:04)

Yeah, that’s so true Victoria. There’s so much that can be done, especially around Amazon VAT changes and you’ve had some success with that with customers recently, haven’t you?

Okay, awesome. So, tip number five is forecast the tax cash crunch. What does this mean? Well, tax payments often fall due right when you fund inventory or ad spend or you’re working on some other project that’s gonna hit your cash flow.

So seeing the tax cash crunch in advance lets you time your campaigns or finance whatever growth you’re working on as a business so that you don’t stall for lack of cash.

That money, that tax money belongs to those tax authorities. It’s not business money. And so it’s really important to have a good plan in place for making sure that you have it available to remit it when you need to. And it doesn’t impact your other business operations. So Victoria, I’ll go to you first again and then I’ll get Elliot to weigh in. How does the bookkeeping workflow that

spoken to a little bit earlier on?

How does it help mitigate there being a cash flow issue when that tax is due?

Victoria Port (21:12)

Yeah, because keeping your books up to date in real time doesn’t just record what’s already happened, but it gives you these early warning signs and the tools that you need to respond to any changes in your sales pattern. So if you use a 13 week cashflow forecast, that means that you can get ahead of any unexpected tax bills as it will identify a spike in your sales that you might need to keep extra cash aside for. Also, it can identify if you’re relying too heavily on the dates that you get your Amazon deposits in the bank account.

and just flag that up if that’s going to cause you an issue. For example, if your VAT bill’s due on the 7th of June, but your Amazon deposit doesn’t hit the bank account until the 10th of June, it will just identify if there’s going to be a period of time where the cash available in your bank isn’t going to cover the costs.

So we’ve got on screen a simplified example of what a 13 week cashflow forecast would look like. 13 weeks is usually the standard, the industry standard of what we’d recommend looking ahead for an ecommerce business. With this graph, it is simplified in your situation, we’d make it ⁓ more bespoke for your own business so that we can see all the different types of expected outflows that we’re looking at over the month versus the sales

that we’re expecting in the cash or cash that’s going to land in the bank account. With all of the report packs as well that I would offer to my clients, you get a personalized pack with not just the cash flow, but other management report packs that are tailored to your business requirements. So when you get that pack, we can talk through the information that we see in it using the graphs, other reports that we’ve pulled from your accounting software such as Xero so that you can accurately

look at what the impact is going to be over the next few weeks to your business, what you need to address, what issues are potentially going to be red flags that you need to look at urgently, what things are perhaps ticking away in the background that you just need to monitor. And it just really gives you that extra peace of mind when you’re looking at your business figures, that you’re understanding first of all, what way cash is going and also what you need to plan for the future.

Elspeth Cordray (23:20)

So you’d be putting together some of those reports on behalf of your clients just to give them some forewarning. Yeah, amazing. Okay, so from the Taxually point of view, Elliot, I know I think you’ve got some tools that you have in your system that can help sellers with this as well.

Victoria Port (23:26)

Exactly, yeah.

Elliot Martin (23:38)

Yeah, absolutely. So within the app, we have a filings calendar section, which basically breaks down the dates by which you need to submit the payments for each country, which is great if you’re selling in loads of jurisdictions because each jurisdiction has, you know, it be a monthly, it could be a quarterly filing, and they can fall on different days in the month. So for sellers, it’s really helpful just to be able to go in there to have a look, to see what’s coming up and kind of forecast that. And again, as Victoria mentioned with VAT and sales tax,

you do need to send that to the authorities, it’s not your money at end of the day. So yeah, the findings really comes in to help and it’s something that we have as standard for all our clients.

Elspeth Cordray (24:18)

That sounds like a really good tool. So I think the key takeaway for our fifth tip is just run a cash flow forecast that does show VAT, sales tax payments and timings and that helps you to avoid big marketing pushes or other projects that you’re working on running into cash flow issues when you need to pay those tax bills.

So to wrap up, we had five top tips today for expanding globally. The first tip was get your books right. The second was run a compliance checklist before you branch out. The third is monitor your thresholds in different zones. And the fourth is close the loop on tax and VAT returns. And then our last tip was tip number five, which is forecast ahead for your tax payments and avoid that tax cash crunch.

So this has been a great session and it’s been really great to have you here, Elliot and Victoria. Any more thoughts that you’d like to share with us before we wrap up?

Elliot Martin (25:13)

Sure, yeah, I think I’ll break it down by kind of merchants and accountants as two separate groups. So starting with merchants, right, with the sellers, I think when you look at global expansion, there is a real opportunity there. know, particularly you’ve got more customers and oftentimes less competition abroad. So it is always worth just thinking, okay, what’s this market looking like? Is there an opportunity for me to sell here? And we’re already seeing this really pick up now with sort of North American brands looking at Europe, sort of post tariffs as an opportunity

to sell their products and vice versa with European, UK brands exploring North America more than before.

I think timing is really important. and before long it’s going to be Q4, which for most people is their biggest sales course, Black Friday, Christmas, etc. It’s important to know that it takes time to get these registrations in place. If you want a VAT number in Germany, it can take two to three months from the point of document submission. We’re looking there going to September, October. You really want to have your tax set up ahead of selling in these markets. You don’t want to be doing it the night before.

or Black Friday, you wanna have a market presence already. just think ahead for the rest of the year. If you’re trying to grow your business, which I think everyone should be, then really have that timetable in place and kind of start the process now. So that’s kind of for the merchants and for the sellers. When it comes to accountants, I think it’s really important to look at your client base today and ask yourself, what am I currently doing to support my clients who sell internationally? Or want to sell internationally? I imagine a lot of people, a lot of accountants

listening to this will have international ecommerce sellers and we found in our experience that they either don’t have a solution in place or maybe they have someone they sometimes refer to but there’s no kind of fully formatted approach that if a business comes in with global tax needs they can help them right and that can mean losing business or losing revenue you know there’s money on the table for a lot of accountants who can support them

with global taxes. So that’s where we kind of come in. Not only is it Taxually someone that you can refer business to and support, but also it’s a, as a software solution, we offer a white label service that’s already been taken up by a number of accountants. You essentially offer the service in-house using our platform and Taxually can support them and their clients with those filings. So I think that’s really appealing, especially from kind of a customer lifetime value perspective, as well as the stickiness and customer satisfaction. And again, if you’re pitching for business against other bookkeepers or accountants,

and you start talking about international tax, if another one doesn’t have something in place, you’re likely to really stand out and kind of win that business, not on price, but on the quality of service you’re able to offer. So if anyone’s listening to this and thinks, ⁓ I fit that bill, I need to speak to Elliot, then feel free to reach out. My role here is to manage accountancy partnerships, and I’d be happy to kind of take you through the process and explain what we can support you and your client base with.

Elspeth Cordray (28:09)

Thanks Elliot. Victoria, have you got anything to add?

Victoria Port (28:13)

Yeah, just to reach out really to the sellers that are watching this. you’re selling and you’re a small seller at the moment looking to grow, or you’re already a large established seller looking for more accounting support, then do feel free to reach out. I regularly come across clients where they’ve been working with a previous accountant or bookkeeper for a while who perhaps doesn’t have a specific ecommerce knowledge and you just need a bit of extra support alongside your existing accountant or if you like looking to make the switch to an ecommerce

a specific accountant then I’d be really happy to help you out so just reach out and we can just have a free consultation.

Elspeth Cordray (28:51)

Thanks Victoria.

That’s brilliant. And I think we can all agree that there’s a real opportunity here. Done right, you can expand globally. There’s opportunities for accounts and bookkeepers who are serving clients that want to do that, but also for the sellers themselves as they expand. It’s been great to hear your thoughts today. Elliot and Victoria, really appreciate you being here. You are real experts and I know that you’re supporting customers every day with this. If you do have questions, please check them out.

Reach out to Elliot at Taxually or reach out to Victoria at MVP. If you have questions about A2X, feel free to reach out to me and have a great day everybody.